Clasify each of the following statements as positive,or normative.Explain.a.Society faces a short-run trade-off between inflation and unemployment.b.A reduction in the rate of money growth will reduce the rate of inflation.c.The Federal Reserve should reduce the rate of money growth.d.Society ought to require welfare recepients to look for jobs.e.Lower tax rate encourage more working and more saving.

Clasify each of the following statements as positive,or normative.Explain.a.Society faces a short-run trade-off between inflation and unemployment.b.A reduction in the rate of money growth will reduce the rate of inflation.c.The Federal Reserve should reduce the rate of money growth.d.Society ought to require welfare recepients to look for jobs.e.Lower tax rate encourage more working and more saving.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter1: The Role And Method Of Economics

Section: Chapter Questions

Problem 8P

See similar textbooks

Similar questions

Would an op-ed piece in a newspaper urging the adoption of a particular economic policy be a positive or normative statement?
Answer the following question.. "The Consumer Price Index increased by 4.2 percent in the first quarter of this year." What type of statement is this? a. normative b. negative c. positive d. subjective e. biased
Classify each of the following statements as positiveor normative. Explain.a. Society faces a short-run trade-off betweeninflation and unemployment.b. A reduction in the growth rate of the moneysupply will reduce the rate of inflation.c. The Federal Reserve should reduce the growthrate of the money supply.d. Society ought to require welfare recipients to lookfor jobs.e. Lower tax rates encourage more work and moresaving
a. Explain why scarcity leads to tradeoffs. b. What is the difference between positive and normative analysis? Which of the following statements would entail positive analysis, and which normative analysis? i. Internet auction companies will erode the profits of local automobile dealerships. ii. The government should impose special taxes on sales of merchandise made over the Internet. c. Why is the circular flow model important?
Micro VS Macroeconomics? Classify the following questions as Microeconomics or Macroeconomics and provide a justification for your choice. a) How will the market for melons be affected after Hurricane Dean? b) How much will the American economy grow this year? c) What are the factors which determine the choice that a person makes between buying a Honda Accord or a Toyota Corolla? d) What will the inflation rate be for Belize?
What is the difference between disagreeing abouta positive statement and disagreeing about a normative statement?
3. Is each of the following statements positive or normative? If the statement is positive, write a normative statement about the same topic. If the statement is normative, write a positive statement about the same topic. a.) For-profit prisons have led to a higher incarceration rate in the United States. b.) The Washington Commanders should have chosen a cooler mascot. c.) The use of human subjects in experiments should be subject to less oversight. d.) If the U.S. privatized Social Security, it would reduce government deficits in the long run. e.) Students should not be required to take exams.
Determine if the following statement is normative or positive: Households that participate in SNAP purchase more food than households that don't participant in SNAP. a. Normative b. Positive c. Both d. Neither
Brinley says that "gas prices are rising because there aren't enough oil refineries." argues that "gas prices are rising because of the growing demand for gasoline fro and India." We can conclude that: Brinley's statement is positive; Katie's statement is normative. Both statements are positive. Brinley's statement is normative; Katie's statement is positive. Both statements are normative. Question 4
Find one positive or one normative statement. Explain how you know they are either a positive or normative statement.
a. In what ways is economics a science and why do economists make? b. What is the importance of the circular-flow diagram?
In what ways is economics a science and why do economists makeassumptions? What is the importance of the circular-flow diagram? On the Forbes 2021 list of the World’s Billionaires, Jeff Bezos ranks at the topwith a net worth of US$177 billion. Does he face scarcity, or does scarcity onlyaffect those with more limited incomes and lower net worth?